Tuesday, March 17, 2015

People Who Will Never be President, Chapter 3

Chapter 3: Louisiana Governor Piyush "Bobby" "Bubba" Jindal.


One would have thought that after the State of the Union fiasco Jindal would no longer be considered even a dark-horse candidate, but there does seem to be at least the possibility of presidential run in his future, even if it is just a Gingrich/Cain book deal kind of run. Which for his sake, I hope it is because there is no way in Hell that Bobby Jindal will ever be President.

First of all, no matter what they may say to pollsters, the Republican base is not about to hand the keys to the White House to a guy whose family tree doesn't have it roots in Western Europe.

You can whitewash the portrait all you want, "Bubba."

Secondly, can you imagine this feeble little milquetoast in a debate against the Republican flamethrowers? Chris Christie's walking out of there with Jindal's lunch money.

And then there's the way he runs an economy:

Louisiana governor: Sell tobacco settlement for upfront cash

Wow. It's the J.G. Wentworth approach to macroeconomics. What's plan B, a payday loan? Auto pawn?
Maybe just buy some time until the check comes in from that Nigerian prince?
Gawd!  What are you, running the state out of a trailer park?

BATON ROUGE, La. (AP) — Louisiana Gov. Bobby Jindal's administration moved ahead Tuesday with a plan to sell the state's remaining share of a massive tobacco settlement, despite criticism the move would waste a valuable asset for a quick fix to budget problems.
A board that oversees the settlement agreed to the idea, though several more approvals would be needed before any sale. Treasurer John Kennedy objected, saying Jindal's plan is driven by desperation to find money for a budget awash in red ink.

Red ink, huh? You know, there's a thing that you can do to get money, um. . . what's it called? It rhymes with "snacks." Um, oh yeah, tax! You could maybe have some sort of a tax, then you'd have monies to pay for things. 

 As the Republican governor has stuck to a pledge against raising taxes, Jindal and lawmakers have refused to match the state's spending to its yearly revenue. They have plugged budget holes with short-term financing like money from property sales, legal settlements and trust funds, creating continued shortfalls year after year.

Ah, the party of fiscal responsibility! All you have to do is sell off like a billion dollars worth of property each year, and then, um. . . 

Step Three: Profit!

 Well, you know Republicans are always saying they'd run the country like a business, and Jindal is running his state like a CEO who knows he won't be around in a year when it all hits the fan.

Kennedy, also a Republican, called the tobacco settlement plan more of the same maneuvering, as the state faces a $1.6 billion budget gap next year.
 Commissioner of Administration Kristy Nichols said the Jindal proposal doesn't involve a one-year cash infusion, but $750 million that could be spent over eight years

 Oh! Well, why didn't you say so? The $750 million isn't just getting thrown at the billion-dollar shortfall, that would be silly! It's spread out over 8 years, so it's only about 100 million to offset the on and a half billion. . . wait, how is that better?

 Louisiana is one of many states that settled lawsuits for claims of smokers' deaths and health costs against tobacco companies in 1998 in return for installments of money each year. The annual payments extend as long as the companies involved in the settlement are viable.

So, you would be getting money from this settlement for infinity years? That's what you're selling off? An infinity-year annual payment?  Who would sell that? I mean, unless you're getting magic beans in return - wait, are you getting magic beans?

 No, wait. Wrong fairy tale. You're killing the golden goose.

The state sold 60 percent of its settlement to investors for $1.2 billion in 2001, rather than risk tobacco companies going belly-up later and not making their settlement payments.

Really? You're the second Louisiana governor to think this was a good idea?

 The Jindal administration proposal to sell the remaining 40 percent would be structured differently. It would spend all the dollars that are received over seven to eight years — eliminating the yearly $55 million revenue stream after that, until the bond debt is paid.


Thank God Bobby Jindal will never be President!